6139008-History-of-Money

CERTIFICATES OF INDEBTEDNESS". So, we, the taxpayer, are guaranteeing a private bank’s note! You can now clearlyunderstand why our government and private sector are so deeply in debt. All we use for money is (monetized) DEBTS.Federal Reserve Bank of Chicago, Modern Money Mechanics: "Commercial banks create checkbook moneywhenever they grant a loan, simply by adding new deposit dollars in accounts on their books in exchange for a borrower'sIOU.", p. 19. "The 12 regional reserve banks aren't government institutions, but corporations nominally 'owned' bymember commercial banks.", p. 27. The Rothschilds’ favorite saying who along with the Rockefellers are the majorIlluminati Banking Dynasties: “Who controls the issuance of money controls the government!”Thomas Jefferson in 1802 in a letter to then Secretary of the Treasury, Albert Gallatin: "I believe that bankinginstitutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracythat has set the government at defiance… If the American people ever allow private banks to control the issue of theircurrency, first by inflation, then by deflation, the banks will deprive the people of all property until their children wake-uphomeless on the continent their fathers conquered. . .The issuing power should be taken from the banks and restored tothe government to whom it properly belongs."Thomas Jefferson to Richard Henry Lee, 1779. ME 4:298, Papers 2:298: "It is a cruel thought, that, when we feelourselves standing on the firmest ground in every respect, the cursed arts of our secret enemies, combining with othercauses, should effect, by depreciating our money, what the open arms of a powerful enemy could not." Later, Jeffersonused stronger language and denounced the institution as "one of the most deadly hostilities against the principles andform of our Constitution." Some have said that Jefferson did not favor a strong central bank. What he did not favor wasthe delivery of our monetary system into private hands to be run for private profit.Kenneth Gerbino, former chairman of the American Economic Council: "Historically, the United States has been ahard money country. Only [since 1913] has the United States operated on a fiat money system. During this period, papermoney has depreciated over 87%. During the preceding 140 year period, the hard currency of the United States hadactually maintained its value. Wholesale prices in 1913 ... were the same as in 1787."Art Rolnick, former Chief Economist, Minneapolis Federal Reserve Bank: "We make money the old fashioned way.We print it."Daniel Webster: "Of all contrivances for cheating the laboring classes of mankind, none has been more effective thanthat which deludes them with paper money."Abraham Lincoln, just after the passage of the National Banking Act of 1863: "I see in the near future a crisisapproaching. It unnerves me and causes me to tremble for the safety of my country ... the Money Power of the countrywill endeavor to prolong its reign by working upon the prejudices of the people, until the wealth is aggregated in a fewhands and the Republic is destroyed."John Adams, in a letter to Thomas Jefferson in 1787: "All the perplexities, confusion and distress in America rise,not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from downrightignorance of the nature of coin, credit and circulation."Voltaire (1694-1778): "Paper money eventually returns to its intrinsic value - zero."Sir William Rees-Mogg: “The value of paper money is precisely the value of a politician's promise, as high or low as youput that; the value of gold is protected by the inability of politicians to manufacture it.”Henry Hazlitt: “The monetary managers are fond of telling us that they have substituted 'responsible moneymanagement' for the gold standard. But there is no historic record of responsible paper money management ... Therecord taken as a whole is one of hyperinflation, devaluation and monetary chaos.”Theodore R. Thoren explains The Truth In Money Book: "The creation of money exclusively as debt is the critical,destabilizing flaw in the American Economy".St. Louis Federal Reserve Bank in "Review", Nov. 1975: "The decrease in purchasing power incurred by holders ofmoney due to inflation imparts gains to the issuers of money...."George Bernard Shaw: "You have to choose [as a voter] between trusting to the natural stability of gold and the naturalstability of the honesty and intelligence of the members of the Government. And, with due respect for these gentlemen, Iadvise you, as long as the Capitalist system lasts, to vote for gold."Federal Reserve Bank of Philadelphia in "Gold": "Without the confidence factor, many believe a paper money systemis liable to collapse eventually."President James A. Garfield 1831-1881: "Whoever controls the volume of money in any country is absolutemaster of all industry and commerce."The Hidden History Of Money & New World Order Usury Secrets Revealed at last! Page 79